The insurance market in Bulgaria still looks different from that in developed European countries, as automobile insurance continues to dominate.<\/p>\n
Mandatory Civil Liability insurance generates just over 40% of the total insurance market, and when adding comprehensive auto insurance, automobile insurance products account for nearly 80% of the general insurance market.<\/p>\n
This was commented on by Kosta Cholakov, CEO of DZI, in the \u201cPortfolio\u201d segment on Darik Radio.<\/p>\n
### What are the most popular insurance products on the Bulgarian market?<\/p>\n
“In recent years, there has been a positive shift in life insurance, where health insurance has been growing at double-digit rates.<\/p>\n
It has become very popular due to group contracts that employers sign for their employees. So, health insurance is what we see as an interesting and developing product,” Cholakov stated.<\/p>\n
According to him, due to low interest rates in recent years, there has also been an increase in life insurance with an investment element. These products have also shown double-digit growth over the past few years.<\/p>\n
“In developed markets, however, life insurance is the largest insurance segment, whereas here, this is not the case. Even in general insurance, things are different because there are countries where 80\u201390% of properties and homes are insured, even though it is not mandatory everywhere. Meanwhile, here, coverage is below 10%,” added the CEO of DZI.<\/p>\n
According to him, this is due not only to insurance culture but also to other key factors\u2014one being that insurers must work even harder to build trust among consumers.<\/p>\n
Another crucial aspect is the need for a state policy in the sector. In every major disaster, many people expect the government to cover the damages, perceiving property ownership solely as a right but not as a responsibility.<\/p>\n
He cited examples of Romania and Turkey, where property insurance is mandatory, yet insured homes range between 20% and 30%. In contrast, in countries like France, where it is not mandatory but public-private partnerships exist with the state, coverage exceeds 80%.<\/p>\n
This demonstrates that the mandatory element does not always work, and other factors are also important.<\/p>\n
Source: Darik Business Review<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" \u0418\u0437\u043f\u044a\u043b\u043d\u0438\u0442\u0435\u043b\u043d\u0438\u044f\u0442 \u0434\u0438\u0440\u0435\u043a\u0442\u043e\u0440 \u043d\u0430 \u0414\u0417\u0418 \u041a\u043e\u0441\u0442\u0430 \u0427\u043e\u043b\u0430\u043a\u043e\u0432 \u0433\u043e\u0441\u0442\u0443\u0432\u0430 \u0432 \u0440\u0443\u0431\u0440\u0438\u043a\u0430\u0442\u0430 “\u041f\u043e\u0440\u0442\u0444\u0435\u0439\u043b” \u0432 \u0435\u0444\u0438\u0440\u0430 \u043d\u0430 \u0414\u0430\u0440\u0438\u043a \u0440\u0430\u0434\u0438\u043e<\/p>\n","protected":false},"author":1,"featured_media":7042,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-7041","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-life-insurance-en"],"yoast_head":"\n